Around 185,000 metric tons of
deforestation-free soybean meal were shipped from Brazil to
Thailand to test the companies’ joint digital blockchain
traceability solution for sustainable soy
Bunge (NYSE: BG), a leading agribusiness and food company, and
Bangkok Produce Merchandising Public Company Limited (BKP), a
subsidiary of Charoen Pokphand Foods Public Company Limited (CPF or
CP Foods), a world leader in food, jointly tested a traceability
platform using blockchain technology for sustainable soy. To date,
three shipments totaling 185,000 metric tons of deforestation-free
soybean meal have been loaded in Brazil and are headed to Thailand,
allowing CP Foods to trace the soybeans from farm origin,
processing, transportation, to delivery at destination. Three
additional ships carrying an additional 180,000 metric tons of
soybean meal are expected for shipment by July 2024.
These products comply with Bunge’s and BKP’s socio-environmental
supplier verification protocols and were grown in high priority
regions with zero deforestation since 2020, aligning with the
cutoff date determined in the sourcing standard developed by CP
Foods. In addition to compliance with different socio-environmental
criteria, the platform also offers customers access to information
including the carbon footprint of the volumes sold and whether the
farm has adopted regenerative agricultural practices.
Paisarn Kruawongvanich, Chief Executive Officer of Bangkok
Produce Merchandising stated that the company is working to connect
blockchain-based traceability solutions with suppliers, partners,
and farmers across the world, ensuring transparency across its
supply chain. “In the initial stages of our partnership with Bunge,
we have shipped the first vessels of soybean meal verified
deforestation-free, fully traceable from farms to their destination
in Thailand for CP Foods. This marks a significant milestone for
Charoen Pokphand Foods to achieve 100% deforestation-free supply
chains by 2025,” added Kruawongvanich.
“Adding a layer of blockchain technology improves the
transparency in end-to-end traceability that Bunge has been doing
for some years. This ability to increase end-consumer confidence in
soy projects is only possible thanks to the robust supplier’s
socio-environmental verification and monitoring system that we have
structured over the last decade, which uniquely positions us to
provide the connection of proven sustainable products with markets
where the demand for them is increasing,” says Rossano de Angelis
Jr., Bunge’s Vice President of Agribusiness in South America.
The two companies have been collaborating since October 2023,
when they announced a partnership to develop technical, commercial
and operational feasibility studies for a blockchain traceability
solution aimed at building a sustainable and digitally integrated
supply chain. The agreement involves oilseeds and their by-products
sourced by Bunge in Brazil destined for several countries in Asia,
where BKP and CP Foods produce and sell feed and food.
The ongoing tests aim to automate the connection between Bunge
and BKP’s supplier management and socio-environmental monitoring
systems with a digital platform. This enables the customer to
monitor and receive product traceability data, in addition to
accessing socio-environmental information from the sourced farms.
The blockchain technology ensures an additional layer of
reliability, as it makes data immutable once it enters the
platform.
For Bunge’s Distribution Director in Asia, Mohit Purbey, the
deep and trusting relationship Bunge has built with CP Foods over
the years was key to the project. “It is also an example of how
Bunge can create tailored solutions to help our customers fulfill
their own sustainability commitments,” he adds.
Since the end of 2022, Bunge's supplier monitoring system covers
more than 16,000 farms, around 20 million hectares, in South
America and features state-of-the-art satellite technology, capable
of identifying changes in land use and soybean planting on each
monitored property. In Brazil, Bunge currently monitors its entire
direct suppliers in areas at risk of deforestation and is expecting
to fully cover the indirect suppliers in 2025. More than 97% of the
volume of soy sourced by Bunge in the country is deforestation and
conversion free, which brings the company closer to its goal of
achieving deforestation-free chains in 2025.
About Bunge
At Bunge (NYSE: BG), our purpose is to connect farmers to
consumers to deliver essential food, feed, and fuel to the world.
With more than two centuries of experience, unmatched global scale,
and deeply rooted relationships, we work to strengthen global food
security, increase sustainability where we operate, and help
communities prosper. As a leader in oilseed processing and a
leading producer and supplier of specialty plant-based oils and
fats, we value our partnerships with farmers to bring quality
products from where they’re grown to where they’re consumed. At the
same time, we collaborate with our customers to develop tailored
and innovative solutions to meet evolving dietary needs and trends
in every part of the world. Our Company has its registered office
in Geneva, Switzerland, and its corporate headquarters in St.
Louis, Missouri. We have approximately 23,000 dedicated employees
working across approximately 300 facilities located in more than 40
countries.
Website Information
We are routinely post important information for investors on our
website, www.bunge.com, in the "Investors" section. We may use this
website as a means of disclosing material, non-public information
and for complying with our disclosure obligations under Regulation
FD. Accordingly, investors should monitor the Investors section of
our website, in addition to following our press releases, SEC
filings, public conference calls, presentations and webcasts. The
information contained on, or that may be accessed through, our
website is not incorporated by reference into, and is not a part
of, this document.
About Bangkok Produce Merchandising PCL (BKP)
Bangkok Produce Merchandising PCL (BKP), a Feed Ingredient
Trading Business Unit of Charoen Pokphand Foods Public Company
Limited (CP Foods)., aims to be a sustainable leader with a solid
foundation of sustainability throughout the supply chain.
Cautionary Statement Concerning Forward-Looking
Statements
This Bunge press release contains both historical and
forward-looking statements. All statements, other than statements
of historical fact are, or may be deemed to be, forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. These forward-looking statements are not based
on historical facts, but rather reflect our current expectations
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others, could cause actual results to differ from these
forward-looking statements: the impacts of the COVID-19 pandemic
and other potential pandemic outbreaks; the effect of weather
conditions and the impact of crop and animal disease on our
business; the impact of global and regional economic, agricultural,
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conditions; changes in governmental policies and laws affecting our
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markets regulation and environmental, tax and biofuels regulation;
the impact of seasonality; the impact of government policies and
regulations; the outcome of pending regulatory and legal
proceedings; our ability to complete, integrate and benefit from
acquisitions, divestitures, joint ventures and strategic alliances;
the impact of industry conditions, including fluctuations in
supply, demand and prices for agricultural commodities and other
raw materials and products that we sell and use in our business,
fluctuations in energy and freight costs and competitive
developments in our industries; the effectiveness of our capital
allocation plans, funding needs and financing sources; the
effectiveness of our risk management strategies; operational risks,
including industrial accidents, natural disasters and cybersecurity
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described in our Securities and Exchange Commission filings,
including those set forth in the Risk Factors section and under the
heading “Cautionary Statement Regarding Forward Looking Statements”
in our most recently filed Annual Report on Form 10-K. The
forward-looking statements included in this release are made only
as of the date of this release, and except as otherwise required by
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update or revise any forward-looking statements to reflect
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version on businesswire.com: https://www.businesswire.com/news/home/20240610926347/en/
Bunge News Bureau Bunge 636-292-3022 news@bunge.com
Bangkok Produce Merchandising Public Company Limited Mantana Lau
mantana.sal@bkp.co.th
Bunge Global (NYSE:BG)
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Bunge Global (NYSE:BG)
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